@nenitaknobbe
In a July 25 interview with Moneycontrol, Indian Economic Affairs Secretary Ajay Seth announced that the country will release a discussion paper outlining its stance on cryptocurrencies before September 2024.
This paper, rather than proposing immediate legislation, will focus on initiating stakeholder consultation.
India’s Evolving Approach to Indian Crypto Regulation
An inter-ministerial group, including the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), is developing a broader cryptocurrency policy.
This group incorporates diverse perspectives on Indian crypto regulation. The RBI, for example, advocates prohibiting cryptocurrencies due to perceived macroeconomic risks. Conversely, SEBI appears more open to regulation.
“The policy stance is how does one consult relevant stakeholders, so it is to come out in the open and say here is a discussion paper these are the issues and then stakeholders will give their views,” Seth explained in the interview.
0 reply
0 recast
0 reaction